‘Safe and Sound’ Guaranteed Asset Protection

Congratulations on the acquisition of your new vehicle. It’s only natural to be thrilled with your purchase, but have you considered what you would do financially if it was to be written-off? It’s not a nice thought, but practical planning will ensure that your vehicle remains a secure investment, even if the worst happens.

If your vehicle is written off, you couldn’t guarantee that the settlement from your motor insurer would allow you to buy an equivalent vehicle. This is because as your vehicle depreciates in value, your motor insurer will only offer you the current market value at that time – which will be much less than you originally paid. You can’t stop your vehicle from depreciating, but if it is declared a Total Loss, having a ‘Safe and Sound’ Guaranteed Asset Protection policy in place will cover the financial shortfall between the original purchase price and the motor insurance settlement, meaning that in total you will receive exactly what you paid in the first place, up to a maximum payout of £10,000.